Sanmina Corporation (NASDAQ:SANM) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Sanmina Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Sanmina Corporation in a research note on Tuesday, July 25th. Royal Bank Of Canada lowered their price objective on shares of Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 25th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Sanmina Corporation in a research note on Thursday, June 15th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Sanmina Corporation has an average rating of “Buy” and an average target price of $42.80.

Shares of Sanmina Corporation (SANM) traded up 0.53% on Friday, reaching $37.65. 411,291 shares of the company’s stock traded hands. Sanmina Corporation has a 52 week low of $26.27 and a 52 week high of $42.95. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 13.75 and a beta of 0.78. The company has a 50 day moving average price of $37.20 and a 200 day moving average price of $38.29.

Sanmina Corporation (NASDAQ:SANM) last released its earnings results on Monday, July 24th. The electronics maker reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.74 billion. Sanmina Corporation had a net margin of 3.15% and a return on equity of 12.35%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. On average, equities research analysts predict that Sanmina Corporation will post $3.01 earnings per share for the current fiscal year.

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In other news, VP Robert K. Eulau sold 10,000 shares of Sanmina Corporation stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $38.40, for a total value of $384,000.00. Following the transaction, the vice president now directly owns 200,000 shares of the company’s stock, valued at $7,680,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.96% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Sanmina Corporation by 20,899.1% in the first quarter. BlackRock Inc. now owns 11,067,786 shares of the electronics maker’s stock valued at $449,352,000 after buying an additional 11,015,080 shares in the last quarter. Vanguard Group Inc. boosted its stake in Sanmina Corporation by 8.2% in the first quarter. Vanguard Group Inc. now owns 7,218,202 shares of the electronics maker’s stock valued at $293,059,000 after buying an additional 548,729 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Sanmina Corporation by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,347,050 shares of the electronics maker’s stock valued at $241,823,000 after buying an additional 65,223 shares in the last quarter. LSV Asset Management boosted its stake in Sanmina Corporation by 2.5% in the second quarter. LSV Asset Management now owns 3,731,489 shares of the electronics maker’s stock valued at $142,169,000 after buying an additional 91,300 shares in the last quarter. Finally, State Street Corp boosted its stake in Sanmina Corporation by 3.6% in the second quarter. State Street Corp now owns 1,941,595 shares of the electronics maker’s stock valued at $73,977,000 after buying an additional 67,853 shares in the last quarter. Institutional investors and hedge funds own 92.79% of the company’s stock.

About Sanmina Corporation

Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.

Analyst Recommendations for Sanmina Corporation (NASDAQ:SANM)

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